“For 15 years we’ve been seeking appointments with them, but they aren’t giving them out so you really have to buy into the companies,” he said.

“This really fills out our stable of companies. We were an independent agency representing 49 companies in Michigan before, but those are the two big ones we didn’t have. Now we feel we have a full pallet to offer everyone the best products from the best companies.”

University Bank also acquired the Ann Arbor Insurance Centre building at 2621 Carpenter Road in Pittsfield Township. Ranzini said that he may look into developing the vacant half-acre lot next to the building.

“We need more parking for the location to maximize our use of the land, but there’s also potential for other development there,” he said.

“I have interest in talking with Dennis Dahlmann who bought the hotel immediately on the other side of the lot.”

University Bank, founded in 1890, is the ninth largest bank in Michigan. The bank holds and manages a total of over $12.2 billion in loans and assets.